Fintech Finance

MARCH 18, 2025

AKUVO , a leading technology organization specializing in collections and credit risk management, is proud to announce that Prosperity Bank , with $40 billion in total assets, has chosen AKUVO’s platform to streamline its collections processes. We are excited to see the long-term impact this will have on our collections process.”

Credit Risk 59

Credit Risk Risk Management Volume Process 59

Fintech News

FEBRUARY 10, 2025

In fintech, this means AI systems that dynamically manage credit risk, automate trading decisions, and even preemptively block fraud, all without human intervention. Ensuring AIs transparency in decision-making processes is vital to avoid opaque outcomes that might not be easily understood or disputed by consumers.

AI 79

AI FinTech Fraud Detection Fraud Prevention 79

PYMNTS

OCTOBER 9, 2018

However, to get down to his concerns, the analyst said — per news reports such as CNBC — that the recently debuted “Square Installments” (which, as the name implies, offers payment plans) may expose the company in a way that makes it vulnerable to credit markets. Trade wars loom, and the consumer seems to be caught in the middle.

Credit Risk 64

Credit Risk Risk Credit Cards PayPal 64

FICO

AUGUST 23, 2021

Based on the 2020 US Census , the US credit-eligible population (those over 18 years of age) is 258 million people. But how many of those consumers can obtain a FICO® Score? . Calculations by FICO data scientists indicate that more than 232 million US consumers can be scored by the FICO® Score suite.

Consumer 98

Consumer Research CFPB Credit Risk 98

Payments Source

AUGUST 6, 2020

One of the few clear implications from the initial two months of the lockdown with the changes to consumer behavior and the uncertainty ahead is the imperative for organizations to regain clarity on credit risk by obtaining a more complete picture of consumer creditworthiness, says LexisNexis Risk Solutions' Ankush Tewari.

Credit Risk 115

Credit Risk Risk Payments Consumer 115

FICO

AUGUST 16, 2021

It serves as a broad-based, independent standard measure of credit risk. It is relied upon by stakeholders across the entire lending ecosystem – from regulators, investors and boards to consumers, lenders, and brokers – as a baseline metric for assessing credit risk that is fair to both lenders and consumers. .

Consumer 98

Consumer Credit Cards Continuity Credit Risk 98

FICO

APRIL 28, 2023

Credit Risk and FICO Score Trends? Consumers face debt burden challenges that could impact U.S. credit risk and FICO® Score trends. economy, credit scores, and credit risk trends were headed. At the start of the pandemic, uncertainty surrounded where the U.S. consumers?

Credit Risk 52

Credit Risk Risk Risk Assessment Assessments 52

FICO

JANUARY 21, 2020

Credit scoring is widely used in South Africa to determine the risk of credit applicants — using this kind of objective, precise measure of risk lets banks, retailers and other organizations lend with more confidence, which in turn means more people get approved for credit. About the Empirica Score.

Credit Risk 52

Credit Risk Risk Economy Origination 52

Payments Source

FEBRUARY 5, 2019

Young consumers don't have long credit records, but they do make lots of recurring payments that can feed credit risk decisioning, according to Barrett Burns, president and CEO of VantageScore Solutions.

Consumer 65

Consumer Payments Data Credit Risk Payments 65

PYMNTS

JANUARY 22, 2021

Given the roller coaster ride consumer finances have been on for the last 10 months, managing risk has become critical for financial institutions (FIs), both in terms of rising fraud counts and in terms of rising consumer delinquencies. But AI, he said, can provide a lot more than that in terms of protecting FIs from risk.

AI 106

AI Credit Risk Point-of-Sale (POS) Risk 106

PYMNTS

NOVEMBER 11, 2020

Fintech Partner Connect will “support new ways for businesses and consumers to seamlessly and securely pay, get paid, send money and more,” a spokesperson for the credit card and financial services giant said in an email announcing the new program on Visa on Wednesday (Nov.

FinTech 110

FinTech Credit Risk Small Business NOV 110

FICO

AUGUST 29, 2022

FICO® Score Stays Steady at 716, as Missed Payments and Consumer Debt Rises. Each year, we provide insight into the national average FICO ® Score to help ensure consumers have a baseline measure of credit health standing. consumer reporting agencies (CRAs). Average U.S. by Ethan Dornhelm. expand_less Back To Top.

Consumer 98

Consumer Credit Cards Payments Government 98

FICO

MARCH 25, 2020

Home Credit , a global non-bank consumer lender, has successfully reduced its credit risk while maintaining loan volumes and keeping approval rates steady by incorporating the FICO® Score X Data to optimize its loan process in China. This type of financial inclusion is good for the consumer and good for our business.

Risk 97

Risk Financial Inclusion Point-of-Sale (POS) Risk Assessment 97

FICO

DECEMBER 20, 2018

For my predictions, I’ll focus on four areas of tactical concern within consumer banking that I feel confident bank executives will make significant progress addressing 2019. The post Consumer Banking Predictions 2019: Four Trends to Watch appeared first on FICO. Banks Will Get Smarter in the War for Deposits. The good times are over.

Consumer 73

Consumer Emerging Payments OCC FDIC 73

Payments Dive

DECEMBER 14, 2022

Exposure to consumer credit risk and lower-income spending is significant for those three payments companies, analysts warned Tuesday.

Credit Risk 88

Credit Risk Risk Consumer Payments 88

Fintech Finance

DECEMBER 10, 2024

Curve , the ultimate digital wallet, has announced the appointments of Robert Pasco as General Manager of Curve Credit and Ash Woolf as Senior Credit Risk Manager. With the UK’s unsecured consumer credit market valued at 232 billion, there is a great opportunity for responsible, innovative and ethical solutions.

Innovation 52

Innovation Consumer Credit Risk Risk Management 52

PYMNTS

DECEMBER 10, 2020

And in banking, financial institutions can incorporate artificial intelligence into their consumer credit strategies at a time when a retroactive approach to credit risk management has become less feasible amid COVID-19. 48.8% : Portion of consumers who require a vaccine before returning to their routines.

Credit Risk 102

Credit Risk Risk Management AI On-Demand 102

The Payments Association

NOVEMBER 18, 2024

Von Vonno adds: “ According to Pay.UK, 53% of UK consumers (over 28 million) operate two or more current accounts. Banks should continue to address barriers such as consumer expectations and the need for technology expertise to maintain their competitive edge.

FinTech 88

FinTech Online and Mobile Banking Acquirers Fraud Prevention 88

FICO

OCTOBER 24, 2022

Plus, FICO Score 10 T utilizes a consistent odds-to-score relationship as the prior FICO Score version used by the Enterprises, offering continuity and stability for lenders, investors and consumers. FICO® Score 10 T incorporates trended credit bureau data. FICO Score 10 Suite Available from All Three Credit Bureaus.

Credit Risk 93

Credit Risk Risk Consumer Continuity 93

PYMNTS

JULY 8, 2020

The two executives said acquirers need to have better fraud management solutions than ever before, because the pandemic has prompted consumers to use credit cards for more online and app-based transactions. “We AI Also Helps Manage Credit Risk. Fighting Fraud in a Post-Pandemic World.

Visa 109

Visa AI Credit Risk Risk 109

FICO

JUNE 26, 2020

By actively working with lenders and consumers to navigate the current situation, it is apparent that precise analytics are as important as ever to help avoid over-tightening of credit which can delay an economic recovery. . For instance, higher-resilience consumers tend to have: More experience managing credit.

Credit Risk 98

Credit Risk Risk Assessments Origination 98

FICO

JULY 7, 2021

Leveraging FICO’s heritage of scoring expertise, the new models outperform prior FICO industry version scores in key use cases while providing the same trusted user and consumer experience as prior versions. The FICO® Auto Score 10 provides strong performance for prime thin and new-to-credit files many of who maybe first-time auto borrowers.

Card Issuer 98

Card Issuer Credit Cards Credit Risk Issuers 98

FICO

OCTOBER 11, 2021

Does FICO’s minimum scoring criteria limit consumers’ access to credit? . Over the last 30 years, FICO has continued to analyze the minimum amount of credit bureau data that is necessary to deliver a reliable, predictive FICO® Score to the market - which benefits both consumers and lenders alike.

Consumer 59

Consumer Financial Inclusion Credit Risk Credit Cards 59

FICO

MAY 2, 2023

However, any organisation affected by the new Consumer Duty updates must step back and appreciate the sheer scale of what’s required. However, it's also undeniable that there is often an alignment between consumer expectations and what will help to achieve better performance for a financial service organisation.

Compliance 52

Compliance Consumer Credit Risk Facilitators 52

Stax

MARCH 13, 2025

In 2023, 27% of all point-of-sale (POS) payments were made using credit cards while 23% were made with debit cards. A survey by Forbes Advisor also revealed that 33% of consumers prefer to use credit cards as they’re safer than carrying cash. However, this convenience comes at a cost, mainly for businesses.

Debit Card 88

Debit Card Credit Cards Processors Processing Costs 88

FICO

JANUARY 9, 2023

FCA’s Consumer Duty Mandates Sharper Use of Technology. Managing UK customers to better outcomes under the FCA’s Consumer Duty will require a true platform for understanding and action. Every UK bank, lender and financial services firm is likely to have the FCA’s Consumer Duty front-of-mind right now. Structure of Consumer Duty.

Consumer 52

Consumer Technology Rules Credit Risk 52

The Fintech Times

APRIL 15, 2024

These algorithms analyse extensive data sets to accurately evaluate creditworthiness, making financial services more accessible and responsive to consumer needs. “For consumers, payment and lending experiences become frictionless due to AI, with the technology able to process loan applications and payments more efficiently.

Embedded Finance 134

Embedded Finance AI Finance Assessments 134

FICO

OCTOBER 10, 2022

FICO Fact: Can having no credit score be better for consumers than a low credit score? A low FICO score for a consumer can have the perverse effect of preventing them from having access to a second chance through manual underwriting. Axios recently spoke on the demand to issue out more credit scores.

Consumer 52

Consumer Underwriting Credit Risk Assessments 52

FICO

APRIL 21, 2023

Q: Dale, to start with, can you provide a little background on your business motivation as a credit risk executive for exploring the value of consumer-permissioned DDA data? Q: What insights have you gained (risk or otherwise) about consumers who are willing to permission access to their DDA data? Any surprises?

Consumer 52

Consumer Demand Deposit Account (DDA) Credit Risk Non-Bank 52

PYMNTS

DECEMBER 9, 2020

NEW REPORT: The Banks’ How To Guide To Using AI To Manage Credit Risk. Banks have long turned to a familiar set of tools for managing credit risk — late fees and other penalties. In the 2021 AI Business Plan Playbook For Banks, PYMNTS provides a six-step framework to help banks use AI to manage credit risk.

Cybersecurity 81

Cybersecurity Credit Risk AI B2B 81

The Payments Association

JANUARY 3, 2025

Fraudsters, armed with advanced technologies and professional networks, are exploiting gaps in systems and consumer behaviour. As consumer expectations for frictionless payments grow, merchants face the dilemma of introducing security measures that can inadvertently disrupt the user journey, risking customer dissatisfaction or abandonment.

Fraud Detection 88

Fraud Detection Fraud Prevention Participant Financial Crimes 88

FICO

MAY 7, 2018

Some of the top thought leaders in banking, finance, artificial intelligence, machine learning, and credit risk came together in San Francisco to discuss the key trends and innovations in our industry. In addition, we explored the power of tapping into alternative data in credit scoring in markets across the globe.

Financial Inclusion 77

Financial Inclusion Innovation Credit Risk Underserved 77

FICO

APRIL 24, 2020

In this new age where face-to-face interaction is severely limited and the view into consumer credit risk can be cloudy, financial institutions need accurate analytic insights across the customer lifecycle in order to predict future behavior more than ever.

Best Practices 52

Best Practices Consumer Credit Union Community Banks 52

PYMNTS

DECEMBER 14, 2020

consumers think about artificial intelligence (AI) as it relates to their financial lives? This was a year that bent and broke quite a few risk forecasting models, thus all the more reason to bring AI smarts to bear on transaction volumes scaling far beyond a human pace. Want to know what 10,000 U.S.

AI 87

AI Risk Assessment Online and Mobile Banking Credit Risk 87

FICO

OCTOBER 18, 2016

And if that consumer is looking to secure any type of credit, the party on the other end of the transaction will use the FICO Score to critically inform an important decision: should my organization assume business risk by transacting with this person?

Cybersecurity 96

Cybersecurity Assessments Ransomware Data Breach 96

FICO

MAY 6, 2019

A recent Bloomberg article asserted that “consumer credit scores have been artificially inflated over the past decade,” as credit scores have steadily increased over the past decade of economic expansion. FICO Scores Are Not Fixed Estimates of Credit Risk. So are FICO ® Scores “artificially inflated”?

Underwriting 75

Underwriting OCC Credit Risk Risk 75

PYMNTS

DECEMBER 13, 2016

The issues that have kept millennials out of the mortgage market tend to fall into three categories: lack of sufficient credit, lack of sufficient funds for a down payment or lack of a sufficiently long employment record to get lenders comfortable with them as a credit risk. TransUnion’s projections are based on U.S.

Credit Risk 84

Credit Risk Non-Bank Risk On-Demand 84